Sea Dragon Energy Inc.
TSX VENTURE : SDX

Sea Dragon Energy Inc.

July 24, 2009 17:20 ET

Sea Dragon Energy Inc.: Shareholders' Annual and Special Meeting

CALGARY, ALBERTA--(Marketwire - July 24, 2009) - Sea Dragon Energy Inc. (TSX VENTURE:SDX) -

Sea Dragon Energy Inc. ("Sea Dragon" or "the Company"), an international junior oil and gas company, is pleased to announce changes to its management team and welcomes Mr. Said Arrata to a more active role as President and Chief Executive Officer.

The Board of Directors of Sea Dragon has recently appointed Mr. Said Arrata as President and Chief Executive Officer and Mr. David Thompson as Senior Vice President. Mr. Arrata will continue as Chairman of the Board of Directors. This change reflects the Company's intention to seek for, evaluate and acquire attractive interests in international oil and gas properties so as to build its reserve base and production. The Company is primarily investigating opportunities in Egypt where Mr. Arrata's accomplishments and experience are well known.

Mr. Said Arrata, President and Chief Executive Officer

Said Arrata P.Eng., served as Chairman and Chief Executive Officer of Centurion Energy International Inc. (Centurion Energy) until its purchase by Dana Gas, where he still serves as a board member of the corporation. Mr. Arrata built Centurion Energy into a billion dollar corporation, with a peak production of 40,000 boepd, operating internationally in Egypt, Tunisia and with holdings in Sao Tome Principe. During more than 40 years in the oil and gas industry, Mr. Arrata held management positions with major oil and gas companies in Canada and overseas.

Mr. Arrata was founder and Chief Executive Officer of two major engineering firms as well as two oil and gas companies, operating in Canada and internationally for more than three decades.

David Thompson, Senior Vice-President

Mr. Thompson, Certified Management Accountant (1988), had been the President and CEO of Sea Dragon since its inception and guided the Company through successful financings and its IPO in which it raised $35 million, its listing on the Toronto Venture Exchange and the acquisition and exploration of the EWA Concession in Egypt.

David Thompson has over 25 years of financial experience in the oil and gas industry. He held the position of Senior Vice President at Larmag Group of Companies, established an oil trading company and as Chief Executive Officer for operations in Turkmenistan in 1992 increased production from 8,000 boepd to over 15,000. Since 1992, Mr. Thompson has been the Managing Director and majority shareholder of AMS Limited, a Bermuda based management company as well as the Chief Financial Officer of Aurado Energy, Inc. in 2002 and the Chief Financial Officer of Forum Energy Corporation from 2005 to 2006.

Mr. Arrata and Mr. Thompson will continue to be supported by the following members of the senior management team:

Cameron Dow, Chief Financial Officer

Cameron Dow, C.A. joined Sea Dragon in December 2008. His professional and business career spans thirty years, and includes being a member of the tax departments of KPMG LLP and Deloitte & Touche LLP before fifteen years as the tax and audit partner of Daunheimer & Dow LLP, a Chartered Accounting firm in Calgary. He was a registered auditor with the Canadian Public Accountability Board and worked with companies listed on the Toronto Stock Exchanges and U.S. SEC registered clients. In addition, he instructed at the C.I.C.A. In-Depth Tax Course and taught and authored income tax courses for the Institutes of Alberta, B.C. and the C.I.C.A. Prior to obtaining his Chartered Accountant's designation he completed the Financial Management training program at Canadian General Electric and trained as an account executive at the Merrill Lynch offices in Halifax and Manhattan. Mr. Dow has a B.A. (Economics) Honours from Queen's University (1978).

Mr. Ahmed Farid Moaaz, Country Manager

Mr. Moaaz, B.Sc. in Petroleum Engineering from Cairo University (1971), is responsible for Egyptian operations.

He has over 30 years experience in the oil and gas industry and was also a former Deputy Chairman for Production of EGPC where he was responsible for supervising and directing drilling production and petroleum engineering of all joint venture companies operating in Egypt.

Mr. Moaaz' background consists of supervising and directing drilling production and petroleum engineering as former Chairman El Wastani Petroleum Company, a joint venture between the Egyptian Natural Gas Holding Company and Centurion Energy. He was a director and also supervised the operations of Suez Esso Petroleum Company. More recently, he was the Vice President, Operations of Trident Petroleum International, an international oil company until 2006 currently operating in Egypt.

Barry Wood, Vice-President, Exploration

Dr. Barry Wood has over 33 years experience in the oil and gas industry, including 16 years with Marathon Oil in various positions such as Exploration Manager, Egypt. Currently, he is the founder and director of PetroQuest International Ltd., a UK based company specializing in identifying and developing exploration fairways, prospect mapping and assisting in development work.

Dr. Wood also acts as an international consultant advising on exploration strategies, risks and development plans in North and East Africa, the Middle East and South East Asia. He has also conducted a three-year research project on Basin Evolution of North Africa and the northern Middle East to understand reservoir and trap development in that region.

Dr. Wood has a Doctorate of Philosophy from Oxford University (2001), a B.Sc. Honours from Queen's University (1972) and a B.A. from Queen's University (1969).

ABOUT SEA DRAGON ENERGY INC.

The Company is focused on the acquisition of, exploring for and developing of oil and gas properties, primarily in Egypt and Northern Africa.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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